Health Insurance

cfw1994

Just trawling these threads, & nothing super-recent springs up!
Run across http://www.rowleyturton.com/blog-post/private-medical-insurance-when-you-retire-do-you-need-it
(TL/DR = "yes you do!")

Just wondering what folk here are planning for health insurance (if any!) on retirement. Looks like a pretty good way to pass across a tidy sum of money over the retirement years....

I am aware of the potential need for later life care - more wondering about those who have retired in reasonable health: do you take cover, or just trust in our NHS?
My recent experience with NHS has been broadly very very good, but I can see they are stretched. Not really used my company BUPA cover (esp as they now have a "pay the first £100"!)

OldMusicGuy

Health insurance is expensive and a waste of money IMO. Can't afford it anyway now I am retired. Staying healthy is the best insurance.

I would use the NHS for anything major/sudden/serious. I have Benenden which is a very cost effective way of augmenting the NHS.

I would also consider paying for specific treatment as a one-off, for example I recently paid to go private for a hernia op which cost £1,100. Mind you, that would now be covered by Benenden.

Later life care is budgeted for in our financial planning. I will make sure we have at least enough to pay for 5 years care once we reach 90 plus (the last house downsize should easily realise enough equity to cover it).

JGB1955

I'd stick with NHS care and choose (and pay for) a private room if possible. Sorted! When my first grandchild was born we paid for one nights private room for DIL who had had a horrendous experience. One of the best £100 we've spent.

MallyGirl

I had a cataract op done under BUPA - 1st consult to op was 3 weeks including ordering in a special lens (plus waiting for consultant to return from skiing). Would have been considerably longer with NHS. A year later I had a 'secondary cataract' - saw consultant, called BUPA, he did the op straight away and OH hadn't even finished his coffee when I reappeared to be taken home. I will pay for private for as long as possible - it is in my figures.

westv

JGB1955 wrote: »

I'd stick with NHS care and choose (and pay for) a private room if possible. Sorted! When my first grandchild was born we paid for one nights private room for DIL who had had a horrendous experience. One of the best £100 we've spent.

I didn't even realise you could pay for a private room with the NHS.

cfw1994

MallyGirl wrote: »

I had a cataract op done under BUPA - 1st consult to op was 3 weeks including ordering in a special lens (plus waiting for consultant to return from skiing). Would have been considerably longer with NHS. A year later I had a 'secondary cataract' - saw consultant, called BUPA, he did the op straight away and OH hadn't even finished his coffee when I reappeared to be taken home. I will pay for private for as long as possible - it is in my figures.

So: do you mean you will use your money to pay for certain things, or take out a full BUPA subscription during retirement?

Thx for Benenden link, OMG: looks like a half-way house to speed some things up & allow some (limited) reatments such as physio. I see they are now administered by BUPA. Get mixed reviews on trustpilot....lots good, some bad, not many in between!

Something needing more research for us....